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16
August 6, 2018
24

Top Longs Based on Momentum

9d5
tickernamecountrysectorPeriodChange
1186CHINA RAILWAY CONSTRUCTION CORP LTChinaIndustrials21.43
2314LEE & MAN PAPER MANUFACTURING LTDChinaMaterials19.10
1269CHINA FIRST CAPITAL GROUP LTDChinaConsumer Discretionary17.54
1800CHINA COMMUNICATIONS CONSTRUCTIONSChinaIndustrials17.39
3311CHINA STATE CONSTRUCTION INTERNATIChinaIndustrials16.83
390CHINA RAILWAY GROUP LTD HChinaIndustrials16.22
2689NINE DRAGONS PAPER HOLDINGS LTDChinaMaterials14.04
2009BBMG CORP HChinaMaterials11.76
3898ZHUZHOU CRRC TIMES ELECTRIC LTD HChinaIndustrials11.75
1766CRRC CORP LTD HChinaIndustrials11.54
25

Top Shorts Based on Momentum

a17
tickernamecountrysectorPeriodChange
GDSGDS HOLDINGS LIMITED ADR LTDChinaInformation Technology-36.23
601229BANK OF SHANGHAI LTD AChinaFinancials-31.62
8207CHONG SING HOLDINGS FINTECH GROUPChinaFinancials-30.00
136HENGTEN NETWORKS GROUP LTDChinaConsumer Discretionary-25.00
881ZHONGSHENG GROUP HOLDINGS LTDChinaConsumer Discretionary-21.58
3888KINGSOFT CORP LTDChinaInformation Technology-21.43
570CHINA TRADITIONAL CHI MEDICINE COChinaHealth Care-21.35
2382SUNNY OPTICAL TECHNOLOGY LTDChinaInformation Technology-19.26
2382SUNNY OPTICAL TECHNOLOGY LTDChinaInformation Technology-19.26
6060ZHONGAN ONLINE P & C INSURANCE CORChinaFinancials-18.93
188f
MLIndexnameytd1monthFy1PE
CHIE Index Solactive (Structured SolutionSolactive China Energy T11.952.08-
HXCX Index NASDAQ Global MarketGolden Dragon China TR1.72-8.3819.9
MXCN00SG Index MSCIMSCI China SC Growth1.60-5.0912.4
DJICHK Index Dow JonesDJIM ChinaHK Ind-0.26-2.0916.0
MXCNSC Index MSCIMSCI China Small Cap-3.08-6.738.8
STBCCNU Index Standard & Poor'sS&P China BMI TR USD-3.92-7.1410.5
NDELCHF Index MSCIMSCI Daily TR Net China-4.09-7.2310.8
GDUETCF Index MSCIMSCI Daily TR Gross China USD-4.32-7.22-
NDEUCHF Index MSCIMSCI Daily TR Net China-4.44-7.2910.8
M7CN Index MSCIMSCI CHINA NR-4.45-7.3110.8
MN40CIE Index MSCIMSCI China 10-40 Index D-4.77-7.43-
M1CN40 Index MSCIMSCI CHINA 1040 NR-4.80-7.309.8
GPSSG239 Index FTSEFTSE Greater China HKD-5.44-4.36-
MSEUSCF Index MSCIMSCI China USD-5.86-7.96-
MXCNX Index MSCIMSCI CHINA FREE-5.86-7.9810.8
CHIQ Index Solactive (Structured SolutionSolactive China Consum T-7.29-9.19-
HSI21N Index Hang Seng Bank LtdHang Seng China Ente NR-7.67-6.786.8
TXINOUU Index FTSEFTSE China 50 TR USD-8.20-7.137.4
MXEF Index MSCIMSCI EM-8.37-2.9810.7
TXIN0UNU Index FTSEFTSE China 50 Net TR-8.45-7.28-
25

Commodities YTD Performance

1f40
NameUnitsKeyLastPriceCurrencyYTDChange USDpct1month
Wheat (CBOT)USd/bu.Wheat5.615USD27.6116.13
Orange Juice (ICE)USd/lb.Orange Juice1.6915USD24.195.42
Cotton #2 (ICE)USd/lb.Cotton0.8832USD14.055.71
NickelUSD/MTNickel13775USD12.45-6.26
Cocking CoalCNY/MTCocking Coal1156CNY11.15-16.95
Cocoa (ICE)USD/MTCocoa2129.00USD10.14-13.14
Brent Crude (ICE)USD/bbl.Oil72.79USD9.52-6.39
Corn (CBOT)USd/bu.Corn3.81USD6.577.55
Oats (CBOT)USd/bu.Oats2.4775USD6.564.32
Ethanol (CBOT)USD/gal.Ethanol1.44USD5.880.70
Feeder Cattle (CME)USd/lb.Feeder Cattle1.5194999999999999USD4.433.49
SteelUSD/MTSteel544USD3.62-1.18
Canola (ICE)CAD/MTCanola496.20CAD1.18-2.78
Rough Rice (CBOT)USD/cwtRough Rice11.88USD1.025.88
3Mo Tin (LME)USD/MT3Mo Tin19825.00USD-1.00-2.94
Lumber (CME)USD/1000 board feetLumber440.40USD-2.20-18.57
Soybean (CBOT)USd/bu.Soybean8.99USD-6.911.75
Gold SpotUSD/t oz.Gold1220.18USD-6.98-6.22
Natural Gas (Nymex)USD/MMBtuNatural Gas2.75USD-8.94-6.78
3Mo Aluminum (LME)USD/MT3Mo Aluminum2052.00USD-9.52-9.80
Silver (Comex)USD/t oz.Silver15.45USD-10.07-6.08
Live Cattle (CME)USd/lb.Live Cattle1.1028USD-10.166.31
Platinum SpotUSD/t oz.Platinum822.33USD-12.45-9.38
Palladium SpotUSD/t oz.Palladium920.60USD-15.61-6.09
Copper (Comex)USd/lb.Copper2.7510000000000003USD-15.94-9.61
Coffee 'C' (ICE)USd/lb.Coffee1.0805USD-16.66-6.65
Rubber (Tokyo)JPY/kgRubber167.40JPY-19.13-4.01
3Mo Zinc (LME)USD/MT3Mo Zinc2555.00USD-23.02-17.29
Lean Hogs (CME)USd/lb.Lean Hogs0.5078USD-28.81-32.94
Sugar #11 (ICE)USd/lb.Sugar0.1048USD-31.50-14.45
37

Country USD Yields Ordered By YTD Yield Change

1f40
countryYieldYieldChange
Jamaica11.654.70
Argentina8.402.71
Zambia8.832.61
Turkey7.832.46
Lebanon9.452.19
Gabon8.041.99
Ecuador8.641.89
Tunisia7.451.66
Italy6.401.42
Pakistan7.521.39
Belgium6.741.34
Sri Lanka6.181.32
China5.921.28
Bahrain7.331.23
Senegal6.721.20
Trinidad and Tobago5.811.20
Australia5.851.15
India5.641.13
Ukraine7.851.12
Cote D'Ivoire (Ivory Coast)6.811.11
Russian Federation5.320.96
Nigeria6.800.93
Singapore5.360.92
Hong Kong4.810.92
Malaysia4.500.90
Vietnam4.450.90
New Zealand5.980.90
Bermuda9.550.90
Macau5.920.88
Romania4.190.86
Dominican Republic5.680.85
Lithuania3.310.84
Bolivia5.820.84
Serbia3.940.81
Egypt6.580.80
Kenya6.490.80
Poland3.500.79
Hungary3.940.79
Netherlands5.130.79
Slovak Republic3.260.78
Kuwait4.530.76
Kazakhstan5.460.75
Oman5.480.75
Indonesia4.690.75
Thailand4.660.75
Taiwan4.190.74
Finland4.780.74
Mongolia6.150.73
Philippines4.070.72
Korea (South)4.460.71
Chile5.040.67
Panama4.780.66
Iraq7.050.66
Ireland5.820.66
Peru4.660.64
Croatia (Hrvatska)3.870.64
Canada6.580.64
South Africa5.520.63
United Kingdom5.610.62
Jordan6.790.60
Uruguay4.300.59
Mexico5.100.57
Morocco4.520.56
El Salvador6.890.55
United States5.990.54
Sweden4.570.53
Qatar4.290.48
United Arab Emirates4.730.45
Ethiopia6.240.43
Supranational4.000.43
Brazil6.080.40
Paraguay5.550.39
Colombia4.840.37
Azerbaijan5.130.37
Guatemala5.070.34
Germany5.450.31
Ghana6.350.30
Saudi Arabia4.970.26
Costa Rica6.150.14
Switzerland7.240.10
Angola7.030.05
France6.380.02
Israel5.35-0.07
Venezuela6.32-0.89
Luxembourg8.34-3.57
60

CHINA Big IPOs can't save Hong Kong from trade war's 'very long shadow'

31

Sector Performance in CHINA Last Month

47d
sectorPeriodChange
Materials4.37
Telecommunications2.00
Industrials0.99
Utilities0.03
Energy-0.44
Financials-1.67
Real Estate-7.19
Information Technology-7.59
Consumer Staples-7.71
Consumer Discretionary-7.84
Health Care-9.10
3b

Valuation and Growth of Various Sectors in CHINA

80e
SectorPEFy0PEFy12018Growth
Energy15.338.5068.25
Utilities12.009.2557.18
Materials15.587.0029.16
Consumer Staples26.0020.1724.55
Financials10.947.7621.78
Consumer Discretionary10.6912.9219.15
Real Estate7.2210.7818.26
Telecommunication Services12.009.5018.06
Industrials13.169.9517.69
Health Care14.5010.7510.36
Information Technology11.297.145.63
41f
  • European markets remain firm as China equities suffer
  • China's stock market bulls and bears are locking heads, leaving ...
  • China's stock exchanges cede Asia crown to Japan as investors flee ...
  • Asian shares set for gains despite China's newest tariff threat ...
  • China Stocks, Yuan Slide as Hopes for Politburo Boost Fizzle Out 4
    4c4
  • Should You Be Concerned About Greentown China Holdings ...
  • Sands China Ltd (HKG:1928): Can Growth Justify Its August Share ...
  • China's Effect On The FAANG Stocks
  • How China Foods Limited's (HKG:506) Earnings Growth Stacks Up ...
  • Asia Stocks 'Attractive' if Earnings Growth Continue as Expected ... 4
    41b
  • China falls behind Japan in market cap as trade war intensifies
  • The first company to ever reach $1 trillion in market value was in ...
  • Apple's trillion-dollar market cap invites an airing of grievances
  • S&P 500 and Nasdaq rise as Apple tops $1 trillion market cap
  • Asian stock markets drop, weighed by pullback in China 63

    Link to CHINA Macro Page 34

    CHINA country trades at 2018 simple average 13 PE Fy1 of 11.0 x a and 2018 12 PE Fy2 of 9.7 x 34

    CHINA country trades at 2018 simple average 16 EV/EBITDA of 6.5 x a and 2018 15 EV/EBITDA of 5.8 x 41

    In terms of Dividend yield CHINA country trades at 2018 12 Yield of 2.3 % a and 2018 1a Dividend Yield of 2.6 % 33

    On ROE basis CHINA country trades at 2018 11 ROE of 10.6 % a and 2018 51 ROE of 11.1 %

    Largest Companies in CHINA by Market Capitalisation mn$

    178d
    TickerCompanyCountryIndustrySubIndustryMarketCapUSDmn
    700 HKTencent Holdings LtdCHINASoftware & ServicesInternet Software & Services493930.0
    BABA USAlibaba Group Holding LtdCHINASoftware & ServicesInternet Software & Services450558.0
    1398 HKIndustrial & Commercial Bank of China LtdCHINABanksDiversified Banks334201.0
    939 HKChina Construction Bank CorpCHINABanksDiversified Banks261919.0
    857 HKPetroChina Co LtdCHINAEnergyIntegrated Oil & Gas211738.0
    1288 HKAgricultural Bank of China LtdCHINABanksDiversified Banks198771.0
    2318 HKPing An Insurance Group Co of China LtdCHINAInsuranceLife & Health Insurance193767.0
    3988 HKBank of China LtdCHINABanksDiversified Banks174688.0
    386 HKChina Petroleum & Chemical CorpCHINAEnergyIntegrated Oil & Gas127949.0
    3968 HKChina Merchants Bank Co LtdCHINABanksDiversified Banks116804.0
    2628 HKChina Life Insurance Co LtdCHINAInsuranceLife & Health Insurance103486.0
    BIDU USBaidu IncCHINASoftware & ServicesInternet Software & Services80543.0
    883 HKCNOOC LtdCHINAEnergyOil & Gas Exploration & Produc69958.0
    3328 HKBank of Communications Co LtdCHINABanksDiversified Banks66730.0
    1088 HKChina Shenhua Energy Co LtdCHINAEnergyCoal & Consumable Fuels62666.0
    3333 HKChina Evergrande GroupCHINAReal EstateReal Estate Development45912.0
    998 HKChina CITIC Bank Corp LtdCHINABanksDiversified Banks45838.0
    2007 HKCountry Garden Holdings Co LtdCHINAReal EstateReal Estate Development45806.0
    2601 HKChina Pacific Insurance Group Co LtdCHINAInsuranceMulti-line Insurance45291.0
    1988 HKChina Minsheng Banking Corp LtdCHINABanksDiversified Banks44340.0

    Number of Companies in CHINA by Country by SubIndustry and Market Capitalisation mn$

    129a
    CountryIndustrySubIndustryNumber of companiesMarketCapUSDmn
    CHINAUtilitiesGas Utilities19450.0
    CHINAUtilitiesIndependent Power Producers &222377.0
    CHINAUtilitiesRenewable Electricity211527.0
    CHINATransportationAirlines238911.0
    CHINATransportationHighways & Railtracks211822.0
    CHINATransportationMarine212641.0
    CHINATransportationAirport Services16278.0
    CHINATelecommunication ServicesIntegrated Telecommunication S241138.0
    CHINATechnology Hardware & EquipmenCommunications Equipment119583.0
    CHINATechnology Hardware & EquipmenTechnology Hardware, Storage &16183.0
    CHINASoftware & ServicesInternet Software & Services41025042.0
    CHINASemiconductors & SemiconductorSemiconductors3184.0
    CHINASemiconductors & SemiconductorSemiconductor Equipment13244.0
    CHINARetailingDepartment Stores32327.0
    CHINARetailingComputer & Electronics Retail12334.0
    CHINARetailingAutomotive Retail16440.0
    CHINAReal EstateReal Estate Development9140603.0
    CHINAPharmaceuticals, BiotechnologyPharmaceuticals12666.0
    CHINAMaterialsAluminum220368.0
    CHINAMaterialsGold1039624.0

    Top Companies CHINA by Dividend Yield

    6d9
    TickerCompanyCountryIndustrySubIndustryDividendYld_fy1
    3333 HKChina Evergrande GroupCHINAReal EstateReal Estate Development8.0
    2777 HKGuangzhou R&F Properties Co LtdCHINAReal EstateReal Estate Development7.0
    1171 HKYanzhou Coal Mining Co LtdCHINAEnergyCoal & Consumable Fuels6.0
    3377 HKSino-Ocean Group Holding LtdCHINAReal EstateReal Estate Development6.0
    3383 HKAgile Group Holdings LtdCHINAReal EstateReal Estate Development6.0

    Cheapest Companies in CHINA on FY1 PE

    712
    TickerCompanyCountryIndustrySubIndustryPE_fy1
    1171 HKYanzhou Coal Mining Co LtdCHINAEnergyCoal & Consumable Fuels4.0
    1988 HKChina Minsheng Banking Corp LtdCHINABanksDiversified Banks4.0
    3618 HKChongqing Rural Commercial Bank Co LtdCHINABanksRegional Banks4.0
    489 HKDongfeng Motor Group Co LtdCHINAAutomobiles & ComponentsAutomobile Manufacturers4.0
    1186 HKChina Railway Construction Corp LtdCHINACapital GoodsConstruction & Engineering5.0


    Earnings Relises and Dividends

    18

    Top CHINA Bonds

    4f9
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